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It just baffles me why he would buy Twitter in the first place and even more so why he paid what he did for it. PayPal -> Tesla -> SpaceX -> Twitter. How does that make any sense in any way. So there’s that from the start, but then why is he firing a torpedo into it. Was his secret plan to bulldoze Twitter from the start? That’s a lot to pay for revenge.
The short of it:
He made an offhand comment about buying twitter as a sort of “joke” but was then forced to go through with it thanks to the legal ramifications of said joke.
The sad thing is this guy will light $44B on fire, probably lose 99% of it, and not even feel it.
$33 Billion.
$13 Billion (of the $46 Billion deal) was loans from banks to Twitter.
-$2 Billion of debt IIRC before the deal + $13 Billion from banks + $33 Billion from Elon Musk == $44 Billion (46 billion - 2 billion prior debts).
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He’ll feel it because a lot of the deal was financed off of his Tesla stock. It isn’t that Musk will lose money from Twitter; he’ll lose some control over Tesla. Worse, it could push Tesla’s stock price down, which may be an issue as a lot of people shorted Tesla’s stock.
Is it, though? I’m still waiting for the guys I’m following to move on, like Scott Manley for example.
